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White Oak Provides $4.5MM in Funding to Three Aerospace Firms Supporting U.S. Defense Agencies

September 16, 2020, 09:00 AM
Filed Under: Aerospace

White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance Division provided $4.5 million in factor and ABL-based credit facilities to three aerospace businesses providing specialized services to US Defense agencies.

The first is a veteran owned, service-disabled startup located in Washington State that provides intelligence, surveillance and reconnaissance services (ISR) to the global unmanned aircraft system (UAS) industry. It received a $1.5 million factoring facility to fund its working capital and payroll needs in support of its Federal Government contracts.

The second, a Virginia-based engineering firm providing specialized aerospace, communications and national-security solutions to US Department of Defense agencies, received a $2 million asset-based lending facility after outgrowing its existing financing with a community bank. The increased line of credit will allow them to compete for and service large contracts and increase its R&D efforts.

The third is a Virginia-based developer of autonomous, solar-powered perpetual flight vehicle systems that enhance government and commercial telecommunication and emergency efforts around the world. White Oak provided the firm with a $1 million factoring facility to fund its working capital needs and increase hiring in support of its Federal Government contracts.

“We’re honored to partner with these businesses dedicated to delivering groundbreaking aerospace systems to the US Department of Defense," said White Oak Head of Government Contract Financing, Kysha Pierre-Louis. “Our ability to provide them with flexible financing essential to meeting contract demands, creating jobs and supporting their mission of keeping the country secure brings us great pride.”

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